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Natural Gas Forecast: Prices Rise as US Heat Wave Drives Demand Narrative
Natural gas prices are nearly 10% higher for June as a record-breaking heatwave scorches the western United States. The unusually high temperatures extend from California out to the Great Plains, covering thousands of miles across cities and rural areas alike. Over a dozen locations saw new records set last week, according to the National Oceanic and Atmospheric Administration’s (NOAA) Alex Lamers, a meteorologist with the agency’s Weather Prediction Center. The extreme weather has people cranking up their air conditioning units, placing heavy demand on electric grids. In fact, soaring temperatures are placing ... (full story)